Science Fair Project Encyclopedia
Banking license
A banking license is a prerequisite for a financial institution that wants to provide banking services. Under most jurisdictions the fundamental banking activities, such as taking deposits from the general public are exclusive to holders of a banking license.
However some banking services may be provided without meeting the legal definition of a bank, not holding a banking license. Such an institution is generally referred to as a non-bank.
See also
10-26-2009 08:16:03
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details